Dow and S&P Poised for 200 Day MA Cross-over

With the futures up this morning, be on the watch for a technical milestone this week. Both the S&P and the Dow Jones Industrial Averages are poised to cross over their 200-day moving averages. This bullish indicator could push the markets even higher.

On Friday, the S&P 500 closed at 919.14 while its 200-day moving average was at 928.60 according to data from ThomsonReuters. With the futures pointing to a 13 point gain on the open, we could see a breakthrough this morning.

Similarly, the Dow closed at 8500.33 on Friday with its 200-day moving average at 8761.28, less than 261 points away from the cross over.

The long term moving averages are still downward sloping so we are not completely out of the woods yet. Leading the Dow in the pre-markets are Alcoa , Caterpillar , General Electric and Disney , all up over 3%.

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